5 Gold Mining Stocks Under $5

Analysts estimate these five mining stocks have a minimum upside of 46%.

Northgate Minerals, is a Canada-based gold and copper producer with operations, development projects and exploration properties in Canada and Australia. The company's mining assets include Kemess, Fosterville, Stawell and Young-Davidson. Of all the analysts covering the stock, 67% recommend a buy, while the remaining suggest a hold. Analysts' consensus estimates indicate a 75.3% potential upside during the upcoming few months. The stock was trading at $2.59 Friday morning.

For the fourth quarter, the company reported a production of 66,077 ounces of gold, or 272,712 ounces for full-year 2010. Meanwhile, fourth-quarter sales came in at 70,145 ounces of gold and 12.4 million pounds of copper. Looking ahead to 2011, the company's aggressive $14.5 million exploration program will focus on some exciting discoveries in 2010. Furthermore, during 2012 and 2013, Northgate sees production increasing with significantly lower cash costs.

During 2011, Northgate is seeking to ramp up production at its Stawell Gold Mine by spending almost $13 million on new equipment and $26 million on mine-life extension. For 2011, 2012 and 2013, it sees production at 90,000 ounces, 110,000 ounces and 117,000 ounces, respectively, as compared to 71,482 ounces in 2010. Besides, the company is also looking forward to adding 12,000 ounces of gold and 5.3 million pounds of copper before the closure of its Kemess South mine in March 2011.

Shares of Great Basin Gold (AMEX:GBG) were gapping down Thursday morning with an open price 10.3% lower than Wednesday's closing price. The stock closed at 78 cents yesterday and opened today's trading at 70 cents.

Great Basin Gold (AMEX:GBG) hit a new 52-week low Monday as it is currently trading at 85 cents, below its previous 52-week low of 86 cents with 473,981 shares traded as of 10:35 a.m. ET. Average volume has been 2.7 million shares over the past 30 days.